Bank of America is one of the largest banks in the United States, offering business checking, savings, cards, and lending through a nationwide branch and digital network. Its entry account waives the monthly fee for the first 12 statement cycles. As of 10 June 2026.
- Who it suits
- United States registered businesses that want a full service bank with branches, cash handling, cards, lending, and a rewards programme, rather than an online only account.
- Broadly available in
- The United States. Accounts are for United States registered businesses with United States based owners. As of 10 June 2026.
- Headline monthly fee
- Business Advantage Fundamentals is 16 US dollars a month, waived for the first 12 statement cycles and waivable afterwards. Business Advantage Relationship is 29.95 US dollars a month. As of 10 June 2026.
- Account type
- Business checking and savings at a licensed United States bank, FDIC insured. Bank of America is a bank.
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Overview
Bank of America provides business checking and savings accounts, business credit and debit cards, lending, and merchant services to businesses across the United States. It is a licensed United States bank and a member of the FDIC, so eligible deposits are insured up to the standard limit. The two main small business checking accounts are Business Advantage Fundamentals and Business Advantage Relationship, which add higher transaction allowances and relationship benefits. The Preferred Rewards for Business programme can waive fees and add rewards based on balances. As of 10 June 2026.
Strengths
A nationwide branch network with cash handling, a full range of business credit and lending, a rewards programme that can waive monthly fees, strong digital and accounting tools, and FDIC insured deposits at a major United States bank. As of 10 June 2026.
Limitations
Monthly fees apply after the introductory period unless you meet balance or activity conditions, the accounts are aimed at United States registered businesses with United States owners, and it does not offer local business accounts in other countries. International and non resident applications are limited. Verify current terms with Bank of America.
Fees and features
| Monthly fee | Business Advantage Fundamentals is 16 US dollars a month, waived for the first 12 statement cycles, then waivable by meeting a combined balance, qualifying card spend, or Preferred Rewards for Business membership. Business Advantage Relationship is 29.95 US dollars a month with its own waiver conditions. As of 10 June 2026. |
|---|---|
| Transaction fees | Each account includes a monthly allowance of fee free transactions and cash handling, with charges above the allowance. Wire transfers and some services carry fees. As of 10 June 2026. Verify the current schedule of fees with Bank of America. |
| FX fees | International wire transfers and foreign currency payments carry fees that vary by route and currency. Unclear at a single headline rate, so verify with Bank of America. |
| Minimum deposit | A small opening deposit applies to open a business checking account. As of 10 June 2026. Verify the current amount with Bank of America. |
| Multi currency | Accounts are United States dollar based. International wires are supported, and foreign currency services are available mainly for larger commercial clients. As of 10 June 2026. Verify with Bank of America. |
| Integrations | Online and mobile banking, accounting integrations including QuickBooks, cards, payroll and merchant services, and Preferred Rewards for Business. Verify current integrations with Bank of America. |
| Eligibility | Businesses registered in the United States, including sole proprietors, partnerships, LLCs, and corporations, with United States based owners and a United States address. As of 10 June 2026. Verify eligibility with Bank of America. |
Open a Bank of America business account
Bank of America serves United States registered businesses with United States based owners. Fees and eligibility shown as of 10 June 2026. Confirm current terms with the provider before applying.
Visit Bank of America →Bank of America Business by country
Bank of America business accounts are for United States registered businesses. The country page below explains availability and fees, as of 10 June 2026.
Questions about Bank of America Business
Is Bank of America a bank?
Does Bank of America Business charge a monthly fee?
Who can open a Bank of America business account?
Can you open a Bank of America business account from outside the United States?
Fees, features, and eligibility change and vary by region. This page was last reviewed on 10 June 2026. Confirm current terms with Bank of America before applying.